December 6th - LVLT

Cramer recommended Level 3 Communications Inc. (LVLT) but this is not the first time in recent days he has mentioned it. He even hinted at it being his pick for 2007 due to the increasing demand for bandwidth.

Closing Price: $5.54
After Hours High: $ 5.87
Percent Increase at High: 5.96%
After Hours Most Recent Price: $ 5.80
Percent Increase at Most Recent Price: 4.69%
Sector: Technology
Days to Cover: 2.7
Short %: 9.62 %
% Held by Insiders: 8.58 %
% Held by Institutions: 82.70 %
50 Day Moving Average: $5.34
200 Day Moving Average: $4.61
Average Price Drop for Sector: 4.3%

Cramer gave this a formal recommendation back on September 14th. You can read the update post here. Basically last time it peaked after hours, opened lower the next day, had a 20 cent drop and then rose up but still closed below the after hours high. There has also been significant call buying volume with the stock so some people think this thing is going up and from what I've read on the message board there is also buyout speculation. This will certainly have lots of volume and volatility to trade around and a short is possible off an early spike, but I would look for a spike closer to $6 and look to cover quickly.

Cramer's other recommendation was an upcoming IPO for Heelys (you know those shoes with the drop down wheels in them). He said the bottom line was to buy Heelys in the low $20s and sell it as soon as it crosses the $30 line. Not really a short play here and probably risky to short at $30 and maybe not even possible if it hits that the first day.